Shared Flashcard Set

Details

Shopping Options and Practices.
Definitions.
21
Finance
12th Grade
05/07/2012

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Cards

Term
retail store
Definition
Obtains goods from wholesalers to sell to consumers
Term
wholesale
Definition
Obtains goods from suppliers to sell to retailers
Term
department store
Definition
Sells a variety of goods and services in a single store
Term
warehouse club and super store
Definition
Offers price advantages and wide product selection to its members
Term
discount store
Definition

Sells certain lines of merchandise at below-average prices

Term

consignment store

Definition

Sells used merchandise at reduced prices

Term

thrift

Definition

The quality of being frugal, using resources wisely

Term

specialty store

Definition

Sell goods and services for specialized purposes

Term

door-to-door sales

Definition

Salesperson comes to home, either by invitation or not

Term

catalog shopping

Definition

Shopper calls on telephone to buy goods listed in a catalog

Term

telemarketing

Definition

Seller calls on telephone to sell goods or services

Term

T-commerce

Definition

Shopping in response to ads on television

Term

E-commerce

Definition

Buying goods and services on the Internet, including Internet auctions

Term

reliability

Definition

Being able to depend on a person or business to back up their claims

Term

services

Definition

Special consumer features offered by a store or other seller

Term

impulse buying

Definition

Buying on the spur of the moment, without planning

Term

warranty

Definition

A guarantee that a product will perform up to specified standards; four types are implied, written, full, and limited warranties

Term

estimate

Definition

A total expected cost, in writing, for performing a service

Term

work order

Definition

Gives authority to a service provider to perform services

Term

contract

Definition

Legally binding papers signed by all parties in an agreement

Term

service warranty

Definition

Guarantees certain quality standards of performance

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